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Anonymous

15 Feb 2020

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Recently I have just created the DBS Multiplier account, should I transfer all my money from the Saving account to the Multiplier account?

What is the best course of action? Is it wise to pour all my funds from my savings account into the DBS Multiplier account? If no, what should be my allocation?

DBS/POSB Multiplier Account

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JY

26 Jan 2020

Yes, you would need to transfer, wether its all or partial would be dependent on the interest tier that you can get. Based on the new revision, one category + salary credit, you can transfer up to 25k. If you are able to hit more than one category, you can transfer up to 50k. The rest, you can consider another high yield saving account. https://www.dbs.com.sg/personal/deposits/bank-e...

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Are there advantages in having a fixed deposit account and a savings account? Why do some people put money into a FD account, instead of say, putting everything into a savings account (e.g. DBS Multiplier)?

For those who use accounts like the DBS multiplier, do you create separate savings and expenses accounts? If you do how do you maximise savings?

I recently opened an SC jumpstart account, but I'm looking to study overseas in 2021 which requires more than $15k. Should I transfer this money into the SC account now or keep it in my current DBS account?

If my salary is credited into a POSBank savings account, and I manually transfer my salary into my DBS multiplier account, does that count as salary crediting?

I'm using DBS multiplier savings account and achieving >2 categories (salary credit, investment RSP, and credit card). Should i transfer the excess (from $50k since that's the cap) to SCB Jumpstarter?

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